The 99 Percent Economy: How Democratic Socialism Can Overcome the Crises of Capitalism

Paul S. Adler argues that we need to assert democratic control over the management of both individual enterprises and the entire national economy to overcome economic turmoil, workplace disempowerment, unresponsive government, environmental degradation, social disintegration, and international rivalry. He draws on the strategic management processes of many of our largest corporations to show how this could work, and argues that socialized, public ownership of our resources will enable democratic councils to decide on our economic, social, and environmental goals.

Format: Paperback / softback
Length: 248 pages
Publication date: 30 March 2023
Publisher: Oxford University Press Inc

We are currently facing a multitude of crises that are deeply impacting our lives and the world around us. These crises include economic turmoil, workplace disempowerment, an unresponsive government, environmental degradation, social disintegration, and international rivalry. In his book, The 99 Percent Economy, Paul S. Adler, a renowned expert in business management, argues that unless we undergo a radical transformation of our economy, these crises will only intensify. However, despair should not be our only recourse, and Adler presents a compelling alternative: democratic socialism.

Adler believes that to overcome these challenges, we need to assert democratic control over the management of both individual enterprises and the entire national economy. To demonstrate how this can be achieved, he draws on a surprising source of inspiration: the strategic management processes of many of our largest corporations. These companies have implemented strategies that promise to involve and empower workers, resulting in efficiency and innovation. While the realization of this promise is often limited in practice, Adler suggests that the principles behind it can be consolidated within enterprises and scaled up to the national level.

One of the primary obstacles to democratic socialism is the private ownership of society's productive resources, which is the foundation of capitalism's ruthless competition and focus on private gain at the expense of society, the environment, and future generations. Adler demonstrates how socialized, public ownership of our resources can enable democratic councils at the local and national levels to make decisions about our economic, social, and environmental goals and how to achieve them. The growing concentration of industry makes this socialization step increasingly feasible.

Democratic socialism is not a leap into the unknown, as Adler argues. Capitalist industry has already laid the groundwork for a world beyond capitalism and its crises. By embracing democratic socialism, we can build a more equitable and sustainable economy that benefits all members of society.

In conclusion, we are living in a time of crises that require bold and innovative solutions. Democratic socialism offers a path forward that can help us overcome these challenges and create a better future for ourselves and generations to come. It is time to take action and embrace this alternative vision for a more prosperous and equitable world.

Weight: 360g
Dimension: 235 x 156 x 18 (mm)
ISBN-13: 9780197656952